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Marunouchi headquarters for the Mitsubishi zaibatsu, 1909. Zaibatsu (財閥, lit. ' asset clique ') is a Japanese term referring to industrial and financial vertically integrated business conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Japanese economy from the Meiji period to World War II.
During the 1990s, Yasuda Trust & Banking expanded to become the 23rd-largest banking organization in Japan with ca. US$61 billion total assets, [3] but had to cope with mounting bad loans. [4] On 28 January 1999, its financial condition became unsustainable and it was announced that it would be absorbed into Fuji Bank. [ 5 ]
Zaibatsu — Japanese conglomerate companies of the Empire of Japan. All zaibatsu were disestablished the end of WW II in 1945. Some were reformed as keiretsu and/or present day conglomerate companies.
Fujita was founded by Densaburo Fujita, who created a zaibatsu (pre-war conglomerate) by producing military goods during the Satsuma Rebellion and rapidly expanded his business to construction, mining, and other businesses. After World War II, the Allied Occupation authorities broke up the zaibatsu conglomerates.
During World War II, the Japanese government began forcing consolidation of major financial institutions. In January 1942, Hajime Yasuda, the head of the conglomerate, announced that all Yasuda family members would withdraw from related and subsidiary companies, assuming new leadership positions as board members over all zaibatsu concerns.
Yasuda was among the best financiers that Japan had; however he was not adventurous and hardly expanded the business beyond finance. Most of the industrial houses associated with Yasuda were actually those that Asano Soichiro (the founder of the Asano zaibatsu ) started, whom Yasuda trusted and provided loans to.
Japan's government admitted Monday manipulating an official photo of the new cabinet to make its members look less unkempt, after online mockery of their sagging trousers.
The word originates from the Sino-Japanese term zaibatsu (財閥), where 財 means 'wealth' and 閥 means 'clan'. [9] The Japanese zaibatsu dominated their economy from 1868 until they were dissolved under the American Occupation of Japan in 1945. The rise and proliferation of the Korean chaebol resembles the Japanese zaibatsu at their peak.